The bottom was in at $1321 in april, the latest decline tried to re-test and it failed.

Funny about QE, if they stop it, the dow will collapse, because its been fueling the rally. The rally in the sp 500 has been draining etf's from gold and its price, but, also printing money which destabilzes the currency, which is good for gold. Sometimes the news just doesn't make any sense at all, these guys have a job to do, and that's why its there, not that it makes sense.